Popeyes UK has secured £50m of additional funding from private equity firm TDR Capital.
The funding will be used to accelerate the QSR concept’s openings programme.
Popeyes UK has opened 27 locations across the country since its first opening in Stratford in November 2021.
Its first drive-thru in Rotherham broke sales records for the 4,000-strong global brand.
TDR Capital has backed the growth of Stonegate from its formation to the present day through its multiple aquisitions. It also backs EG Group/Asda under the Issa brothers.
The private equity firm with over €15bn of assets previously backed PizzaExpress and ASK Italian under Gondola Holdings.
Tom Crowley, CEO, Popeyes UK, commented: “This partnership with TDR Capital allows us to continue the fantastic momentum we have built up across the UK and to accelerate our store openings programme. We have a significant and strong pipeline of restaurants with landlords across the country recognising the opportunity of working with us and actively approaching us with good incentives, this investment allows us to fully capitalise on these opportunities.
“TDR will bring their extensive experience to our business and we look forward to partnering with them alongside our current owners Ring International Holdings on the next phase of growth for Popeyes UK.”
Tom Mitchell, managing partner at TDR Capital commented: “Tom Crowley and his team have done a fantastic job establishing Popeyes’s presence in the UK over the last 18 months. There is significant demand for the brand and its product, which makes this an exciting, long-term investment opportunity for TDR. We’re looking forward to putting our capital to work and supporting the company through its next phase of growth as it opens further locations and creates new jobs across the country.”
